Overview. Namibia is a higher-middle-income country with an estimated annual GDP per capita of US$5,828 but has extreme inequalities in income distribution and standard of living.
Is Namibia richer than Nigeria?
Nigeria with a GDP of $397.3B ranked the 32nd largest economy in the world, while Namibia ranked 127th with $14.5B. By GDP 5-years average growth and GDP per capita, Nigeria and Namibia ranked 132nd vs 117th and 149th vs 102nd, respectively.
Why is Namibia poor?
There are a few reasons why Namibia is poor. Many of the causes stem from the social and economic imbalances of the apartheid system that was introduced in 1964 under South African rule. This resulted in a deep divide in Namibian society. If they cannot spend more than N$520.80 per month, they are just considered poor.
Is Namibia a rich country?
Namibia can be found in Southern Africa. With a per capita GDP of $11,528, it is the tenth richest country in Africa. Mining, agriculture, manufacturing, and tourism all play significant roles in the countrys economy. Namibia is sparsely populated, with a population of around 2 million.
What is Namibia rich in?
Namibia is very rich in natural resources with some minerals occurring exclusively under Namibian soil. Out of a great variety of minerals, mainly diamonds, uranium, gold, silver, zinc, copper, lead, tin, marble and granite as well as semi-precious stones are being mined.
How expensive is Namibia?
You should plan to spend around N$1,114 ($74) per day on your vacation in Namibia, which is the average daily price based on the expenses of other visitors. Past travelers have spent, on average, N$97 ($6.38) on meals for one day and N$200 ($13) on local transportation.
How many millionaires are there in Namibia?
There are 3,300 US$-millionaires in Namibia, 1,400 of which live in the capital Windhoek.
Is Namibia a good place to live?
A safe place While no country in the world can claim to be free of crime, Namibia ranks as one of the safest and most politically stable nations in Africa. This may have something to do with its relatively small population size, or the good governance the country has enjoyed over the past years.
What is a good salary in Namibia?
A person working in Namibia typically earns around 17,400 NAD per month. Salaries range from 4,410 NAD (lowest average) to 77,900 NAD (highest average, actual maximum salary is higher). Annual-wise, the average salary in Namibia is 343,987 NAD per year. The most typical earning is 174,480 NAD.
How much is a can of Coke in Namibia?
Family of four estimated monthly costs are 1,960$ (29,559N$) without rent. A single person estimated monthly costs are 571$ (8,613N$) without rent....Cost of Living in Namibia.RestaurantsEditCappuccino (regular)27.71N$Coke/Pepsi (12 oz small bottle)11.44N$Water (12 oz small bottle)12.07N$MarketsEdit62 more rows
What is the most paying job in Namibia?
The most paid careers are Agriculture & Fishing with an average income of 695,420 NAD and Engineers & Technicians V with an income of 543,913 NAD. Based on education, the highest salaries receive people with Doctorate Degree with salary of 520,300 NAD.
How much is it to build a house in Namibia?
The average cost to build a house is $248,000, or between $100 to $155 per square foot depending on your location, size of the home, and if modern or custom designs are used.